Sparc Technologies Limited confirms that it has entered into a joint venture (JV) agreement with its strategic partner and cornerstone shareholder, the University of Adelaide, to jointly advance a project that will develop a novel process for commercially viable ultra-green hydrogen (UGH) production (the Project).
The University of Adelaide and Flinders University created the Ultra-Green Hydrogen technology. The Project’s objective is to further the development of a process called thermo-photocatalysis, which utilizes the sun’s energy and thermal qualities to convert water to hydrogen and oxygen. By utilizing this procedure to manufacture ultra-green hydrogen, renewable energy sources such as wind farms and/or photovoltaic solar panels are not required for hydrogen generation, nor is electrolysis required.
As a result, Capital Expenditure (CAPEX) and Operational Expenditure (OPEX) costs are expected to be greatly reduced, enabling the generation of ultra-green commercially viable hydrogen energy. Additionally, because this technology does not require the large footprint associated with wind and/or solar farms, it can be used remotely and for onsite usage, minimizing reliance on long distance hydrogen transportation and/or electricity transmission.
Sparc Executive Chairman, Stephen Hunt, commented: “Green hydrogen energy has often been touted as being able to provide base load electricity, however it has struggled to compete economically against conventional fossil fuel base load electricity. This globally significant project offers a realistic pathway to achieving economically feasible green hydrogen energy and to advancing industry to net-zero. Developing additional graphene applications in the ultra-green hydrogen energy space is also a very important growth opportunity for Sparc. There are a multitude of positive attributes with this technology and Sparc is extremely excited to be entering this potentially game-changing UGH technology, alongside our partner, the University of Adelaide, and to develop it commercially for a greener world.”
University of Adelaide Executive Director, Innovation & Commercial, Dr Stephen Rodda, commented: “This joint venture is a perfect example of the University of Adelaide’s internationally regarded research being brought to a commercial outcome, which we hope will have benefits for industry and the community. We are proud to be the leading university involved in this venture, applying our research and innovation in responding to one of the great challenges of our times: the development of green energy solutions for our planet.”